Polymarket Prepares U.S. Relaunch Following CFTC Settlement and QCX Acquisition
Polymarket, the blockchain-powered prediction platform that helped popularize decentralized betting markets, is preparing to reenter the U.S. as soon as November, Bloomberg reported Tuesday.
The relaunch will start with limited user access, focusing initially on sports-related markets before expanding to broader event categories. Polymarket had ceased U.S. operations in early 2022 after settling with the Commodity Futures Trading Commission (CFTC), which fined the company $1.4 million for operating an unregistered trading venue and required it to restrict access for American users.
Since then, the New York-founded company has operated offshore, growing its global user base through crypto-settled prediction markets covering politics, culture, and finance. Despite regulatory restrictions, some U.S.-based traders continued to participate via VPNs.
Earlier this year, Polymarket acquired QCX, a firm registered with the CFTC and holding both exchange and clearinghouse licenses — providing a legal foundation for the company’s planned U.S. comeback. The acquisition followed the closure of separate investigations by both the CFTC and the Department of Justice.
Unlike centralized competitors such as Kalshi or the upcoming Truth Social prediction platform from Trump Media, Polymarket runs entirely on blockchain rails and uses stablecoins for trading and settlement. The company also plans to launch a native token, which would integrate governance and utility functions directly into its ecosystem, though details on token distribution and compliance are still pending.
If approved, the relaunch would mark a major step in legitimizing blockchain-based prediction markets within U.S. regulatory frameworks — potentially paving the way for other decentralized platforms seeking compliance pathways.
